You provided some nice color on the trends you're seeing with the Galafold launch in U.S. and Europe. Maybe you can just make a few comments on what you're seeing in Japan and maybe how that compares to U.S. and Europe? Thanks.

you provided some nice color on the trends you're seeing with the galafold launch in u s and europe maybe you can just make a few comments on what you're seeing in japan and maybe how that compares to u s and europe


Even though we face a slight delay compared to our initial time plan, we're still highly confident to close the deal in the second half of 2016 after maximum 3-month approval period

even though we face a slight delay compared to our initial time plan we're still highly confident to close the deal in the second half of 2016 as the maximum 3-month approval period


as of December 31. Since our business is very seasonal and we tend to capture a lot of ARR in the back half of the year, this metric is best reviewed on an annual basis.

as of december 31 since our business is very seasonal and we tend to capture a lot of arr in the back half of the year this metric is best reviewed on an annual basis


Yes. We've got a great team with Charter up there today, and it's a very stable team, as I mentioned. And President of that bank, Lee, is continuing to be our leader up there in Georgia. So I would characterize it as steady

yes we've got a great team with charter up there today and it's a very stable team as i mentioned and the president of that bank lee is continuing to be our leader up there in georgia so i would characterize it as steady


on -- particularly, in the funds side where they want to reduce cost, and they look to print to do that. However, they still have to manage their content. So something like our arc reporting in content management,

particularly in the fund side where they want to reduce cost and they look to print to do that however they still have to manage their content so something like our arc reporting and content management


Let me spend a minute discussing the dynamics around are working capital, especially in relation to customer cash which we carry, which is contained within the customer liability section of our balance sheet.

let me spend a minute discussing the dynamics around our working capital especially in relation to customer cash which we carry which is contained within the customer liability section of our balance sheet


to pursue those developments to ensure that long-term cash flow generation, but also to continue to invest in a material program of exploration drilling over the next few years.

to pursue those developments to ensure that long-term cash flow generation but also to continue to invest in a material program of exploration drilling over the next few years


is basically on increased frequency, and based on what you can see from your sold tickets already, is it possible to see an increase in the long-haul yield going into next year?

is basically on increased frequency and based on what you can see from your sold tickets already is it possible to see an increase in the long-haul yield going into next year


The acquisition of Zephyr Insurance is expected to close in the fourth quarter of 2015 or the first quarter of 2016, subject to customary closing conditions and regulatory approvals.

the acquisition of zephyr insurance is expected to close in the fourth quarter of 2015 or the first quarter of 2016 subject to customary closing conditions and regulatory approvals


to both drive significant efficiencies in the future as well as be agile enough to allow us to move quickly as we expand our product offerings. We are well into this journey and seek to accelerate the effort.

to both drive significant efficiencies in the future as well as be agile enough to allow us to move quickly as we expand our product offerings we are well into this journey and seek to accelerate the effort


That remains an opportunity for us to optimize that as well. We've invested in tools. We've invested in capabilities. We have some great folks here and we continue to believe that there's an opportunity there to drive some improvement.

that remains an opportunity for us to optimize that as well we've invested in tools we've invested in capabilities we have some great folks here and we continue to believe that there's an opportunity there to drive some improvement


we see additional opportunities to evolve our capabilities and services. Our technology solutions are a key component of many of these initiatives and an increasingly important differentiator for our value proposition.

we see additional opportunities to evolve our capabilities and services our technology solutions are a key component of many of these initiatives and an increasingly important differentiator for our value proposition


All of these initiatives are coming at a good time. The momentum in our business is palpable. Over the last few months, we have seen the reversal of downward trends in our go-to-market efforts.

all of these initiatives are coming at a good time the momentum in our business is palpable over the last few months we have seen the reversal of downward trends in our go-to-market efforts


Gross margin rate performance to increase 10 to 15 basis points. We would expect more significant improvement in the first quarter with the remainder of the year with very modest improvement.

gross margin rate performance to increase 10 to 15 basis points we would expect more significant improvement in the first quarter with the remainder of the year with very modest improvement


and tax deficiencies related to share-based payments as income tax expense rather than as equity in our balance sheet. Given our current stock price, we would expect the new rule to increase our effective tax rate.

and tax efficiencies related to share-based payments as income tax expense rather than as equity in our balance sheet given our current stock price we would expect the new rule to increase our effective tax rate


While acknowledging a disappointing Q3, I want to be clear that we have 100% confidence in our growth strategy and the sustainability of the leadership position we have built in the market.

while acknowledging a disappointing q3 i want to be clear that we have 100% confidence in our growth strategy and the sustainability of the leadership position we have built in the market


Albeit at a slow pace, it is expected that improvement in demand in key African export markets will continue through a combination of own effort and improved trading stability.

albeit at a small -- at a slow pace it is expected that improvement in demand in key african export markets will continue through a combination of own effort and improved trading stability


that we shared with you in the past. That said, the share of most Power brands improved in the context of growing categories within the defined channel, SASKO bread and Spekko rice being the exceptions.

that we shared with you in the past that said the share of most power brands improved in the context of growing categories within the defined channel sasco bread and specko rice being the exceptions


Finding the right parties to manage our shelf in top-end grocer as well as key accounts was absolutely crucial to move towards moving the business to a more brand building and category focus.

finding the right parties to manage our shelf in top-end grocer as well as key accounts was absolutely crucial to move towards moving the business to a more brand building and category focus


The work we are doing today on business improvements taps into the enormous potential that exists in Orica and will ultimately deliver a more efficient and effective organization.

the work we are doing today on business improvements taps into the enormous potential that exists in aurora and will ultimately deliver a more efficient and effective organization


This represents 14% operating margins and our 18th consecutive quarter of EBIT improvement. Operating leverage exceeded expectations in the quarter on strong manufacturing productivity.

this represents 14% operating margins and our 18th consecutive quarter of ebit improvement operating leverage exceeded expectations in the quarter on strong manufacturing productivity


I'll now turn the call over to Mike. Mike? Thank you, Bill, and good morning, everyone. As Bill noted, our first quarter performance was in line with our expectations, and we are pleased with the results.

i'll now turn the call over to mike mike thank you bill and good morning everyone as bill noted our first quarter performance was in line with our expectations and we are pleased with the results


We're reiterating total company as well as business unit revenue adjusted EBITDA and driver guidance, although our current view is that RevPAR will be at the low end of our guidance range.

we're reiterating total company as well as business unit revenue adjusted ebitda and driver guidance although our current view is that revpar will be at the low end of our guidance range


Many of these opportunities are unique to us and are not impacted by the broader market dynamics. We are investing in these areas to accelerate profitable growth.

many of these opportunities are unique to us and are not impacted by the broader market dynamics we are investing in these areas to accelerate profitable growth


rotating equipment and monitoring. And we will be investing quite heavily on the back of that acquisition. The second acquisition we just completed in July

rotating equipment monitoring and we will be investing quite heavily on the back of that acquisition the second acquisition which just completed in july


First, this quarter we added an earnings presentation to give you a visual cue of trends and key information as we walk through our results. We're trying to provide meaningful information so you have the context to understand and digest our quarterly performance.

first this quarter we added an earnings presentation to give you a visual cue of trends and key information as we walk through our results we're trying to provide meaningful information so you have the context to understand and digest our quarterly performance


I'll begin today's call with a brief overview of our results and key drivers, and we'll run through the financials and then we'll go right to your questions. But before we begin, Sari will provide a few comments regarding what we will share with you today.

i'll begin today's call with a brief overview of our results and key drivers and we'll run through the financials and then we'll go right to your questions but before we begin sarah will provide a few comments regarding what we will share with you today


whether good or bad, we've been here before, and we have emerged stronger as an organization. So we feel really good with our ability to deliver long-term growth in this business,

whether good or bad we've been here before and we have emerged stronger as an organization so we feel really good with our ability to deliver long-term growth in this business


get reflected in billing rates. So that's why it kind of keeps that slightly lower. So those are kind of the headline numbers for gross profit rates. When I look at

get reflected in billing rates so that's why it kind of keeps that slightly lower so those are kind of the headline numbers for gross profit rates when i look at


part of that due to some of the working capital items you mentioned, and a lot of that coming from some of these large power projects that we are executing that will come back in the following years

part of that due to some of the working capital items you mentioned and a lot of that coming from some of these large power projects that we are executing that will come back in the following years


getting our businesses healthy, but ultimately we're going to have to evaluate all of our businesses to ensure they're driving value for shareholders. If they're not and we don't see a path to get them there,

getting our businesses healthy but ultimately we're going to have to evaluate all of our businesses to ensure they're driving value for shareholders if they're not and we don't see a path to get them there


We've been monitoring oil-exposed regions very closely over the past 18 months. And although oil prices have seen some stability since the beginning of the year, we recognize that these areas have sustained significant job losses.

we've been monitoring oil exposed regions very closely over the past 18 months and although oil prices have seen some stability since the beginning of the year we recognize that these areas have sustained significant job losses


We did, however, see market activity and deal announcements start to pick up postelection, leading to our own activity increasing in the first 2 months of 2017, given the normal deal cycle.

we did however see market activity and deal announcements start to pick up post-election leading to our own activity increasing in the first 2 months of 2017 given the normal deal cycle


Sequential volumes were down slightly on Lunar New Year seasonality. Overall China pricing was flat as helium price headwinds were offset by positive pricing for other products.

sequential volumes were down slightly on lunar new year seasonality overall china pricing was flat as helium price headwinds were offset by positive pricing for other products


as we worked our way through it. But the history of what we had built with the smaller agreement with them in advance helped to build upon that because as we traditionally say, we like to say what we do then do what we say.

as we worked our way through it but the history of what we had built with a smaller agreement with them in advance helped to build upon that because as we traditionally say we like to say what we do then do what we say


In the first half of the year, packaged meat performance, well, we have all seen the figures.

in the first half of the year packaged meat performance well we have all seen the figures


It's -- when you combine the 2, it's a good growth story. And on that point too, we are very pleased with the performance of this business on an operating profitability standpoint

it's -- when you combine the 2 it's a good growth story and on that point too we are very pleased with the performance of this business on an operating profitability standpoint


The award recognizes Trex's leadership in the environmental stewardship in addition to our circular economic model, where Trex takes plastic waste from Home Depot stores,

the award recognizes trex's leadership in the environmental stewardship in addition to our circular economic model where trex takes plastic waste from home depot stores


Solid fundamentals underscore that strong market demographics continue to appeal to businesses seeking to relocate to our footprint. Now turning to our quarterly stats.

solid fundamentals underscore the strong market demographics continue to appeal to businesses seeking to relocate to our footprint now turning to our quarterly stats


Long Beach in particular has been showing healthy sales after starting commercial operations on February 1 of this year, and we continue to see several opportunities, where we are well positioned to compete with for significant projects.

long beach in particular has been showing healthy sales after starting commercial operations on february 1 of this year and we continue to see several opportunities where we are well positioned to compete with -- for significant projects


And as we mentioned at the time of the announcement, we have already commenced the asset sale process with the majority of the Continental U.S. assets now formerly listed for sale with brokers.

and as we mentioned at the time of the announcement we have already commenced the asset sale process with the majority of the continental u s assets now formally listed for sale with brokers


We anticipate our pricing and merchandising actions related to Folgers roast and ground coffee will result in improved volume trends in the second quarter, but the unfavorable price-to-cost gap will continue.

we anticipate our pricing and merchandising actions related to folgers roast and ground coffee will result in improved volume trends in the second quarter but the unfavorable price to cost gap will continue


And that excess cash, what we do with it will be dependent on share price and when that cash comes in. I mean, I'd like to see, given the environment, the free cash come in the door before we're too aggressive

and that excess cash what we do with it will be dependent on share price and when that cash comes in i mean i'd like to see given the environment the free cash come in the door before we're too aggressive


counter. This is something where it's tried, true and lots of dealers are adopting and liking these products. And we're investing in the engineering so that we can keep improving them. We keep tweaking them up.

at a counter this is something where it's tried true and lots of dealers are adopting and liking these products and we're investing in the engineering so that we can keep improving them to keep tweaking them up


we will continue, naturally, to pay attention to the other markets as well as opportunities might arise or eventually any event of concern might arise.

we will continue naturally to pay attention to the other markets as well as opportunities might arise or eventually any event of concern might arise


No, and that's a good question, Himanshu. And yes, there is some variance between markets and there's a number of factors, though. So in some cases, it has to do with certain markets performing stronger and higher demand and for example the West Coast market

no and that's a good question hamanshu and yes there is some variance between markets and there's a number of factors though so in some cases it has to do with certain markets performing stronger and higher demand and for example the west coast markets


for next year in terms of plantings? Supply and demand for the industry will be more balanced? Oversupply? Can you give me any -- kind of your thoughts as we think about next year for fiscal '18 it would be?

for next year in terms of plantings supply and demand for the industry will be more balanced oversupply can you give me any kind of your thoughts as we think about next year for fiscal '18 it would be


So it's something that we want to continue building on and it's something that being contrarian, I mentioned last call, we think there will be opportunities in pockets of the commercial auto, but definitely more analytics. And one of the things that we've noticed

so it's something that we want to continue building on and it's something that being contrarian i mentioned in the last call we think there will be opportunities in pockets of the commercial auto but definitely more analytics and one of the things that we've noticed


what you would describe as channel disruptions from e-commerce maybe on the electrical side, business shifting away from some of the traditional distributors? Anything that you can comment there?

what you would describe as channel disruptions from e-commerce maybe on the electrical side business shifting away from some of the traditional distributors anything that you can comment there


inside of the Electrical Systems and Services business and all those restructuring benefits are paying off. And so as we think about the first half versus second half, we're really not counting on any significant change

inside of the electrical systems and services business and those restructuring benefits are paying off and so as we think about the first half versus second half we're really not counting on any significant change


Is that -- could you break out what portion of that is growth and what proportion is related to weather? Well, it was -- we don't think it was really -- a significant amount of that was weather.

is that -- could you break out what portion of that is growth and what portion is related to weather well it was -- we don't think it was really a significant amount of that was weather


We have scrubbed our production forecast for the remainder of the year. And while our outlook has been reduced, we still have an expectation of a higher fourth quarter over both Q3 and last year.

we have scrubbed our production forecast for the remainder of the year and while our outlook has been reduced we still have an expectation of a higher fourth quarter over both q3 and last year


Our slot win was fairly close to the fourth quarter of last year, it was down a little more than 1%. MGM opened in the National Harbor on December 8. And while they may have a had a small effect on the numbers for the balance of the month,

our slot win was fairly close to the fourth quarter last year it was down a little more than 1% mgm opened in the national harbor on december the 8th and while they may have had a small effect on the numbers for the balance of the month


if -- I mean, it sounds like you're lined up pretty well with inventory and so on. So why guide to low singles when you're off to such a good start as you're seeing it right now running mid?

if i'm -- i mean it sounds like you're lined up pretty well with inventory and so on so why guide to low singles when you're off to such a good start as you're seeing it right now running mid


I think it's too early to really talk about when we can expect the product launch because I think we have to transfer this technology into a product first, and I think we have to wait

i think it's too early to really talk about when we can expect the product launch because i think we have to transfer this technology into a product first and i think we have to wait


In addition to another consecutive of overall organic growth, we successfully delivered organic growth across all reporting segments and generated great cash flow from operations in the third quarter.

in addition to another consecutive of overall organic growth we successfully delivered organic growth across all reporting segments and generated great cash flow from operations in the third quarter


Okay. And then maybe just my quick follow-up. Just on the international segment, I know you mentioned last quarter you were taking steps to just improve the consistency of that business. Maybe just an update on where you are on

okay and then maybe just my quick follow-up just on the international segment i know you mentioned last quarter you were kind of taking steps to just improve the consistency of that business maybe just an update on where you are on


However, we're approaching a transition point where you will begin to see us dial back network expansion CapEx as we complete certain critical capacity projects already underway.

however we're approaching a transition point where you will begin to see us dial back network expansion capex as we complete certain critical capacity projects already underway


These factors include market conditions post-Brexit, the amount of capacity life companies have as they come close to meeting their annual allocations, and the appetite GSEs have for financing RV assets.

these factors include market conditions post-brexit the amount of capacity life companies have as they come close to meeting their annual allocations and the appetite gses have for financing rv assets


substantial amount of money. Customers tell me that Crexendo's award-winning solutions are perfect for a company that wants to increase productivity and save money

substantial amount of money customers tell me that crescendo's award-winning solutions are perfect for a company that wants to increase productivity and save money


the departments together and then blend them together and not have 2 people doing the same job and a certain task being done 2 or 3 times. So that certainly has to continue, and I don't think anybody would say that the

the departments together and then blend them together and not have 2 people doing the same job and certain tasks being done 2 or 3 times so that certainly has to continue and i don't think anybody would say that they're


Also, if we look at the cost base, having full production facilities in China alone would have its own benefits in terms of the labor cost and also there is some changes in the overall utilization that we do recognize

also if we look at the cost base having full production facilities in china alone would have its own benefits in terms of the labor cost and also there is some changes in the overall utilization that we do recognize


while an application for approval of the proposed sale has been submitted to HLC, along with draft documents that, if the application is approved, would govern the terms of the sale and the shared services arrangement,

while an application for approval of the proposed sale has been submitted to hlc along with draft documents that if the application is approved would govern the terms of the sale and the shared services arrangement


by moving to more shifts, and also getting that second automated line operational. So when we talk about production capacity for 20,000, I personally believe that's a very conservative production capacity number.

by moving to more shifts and also getting that second automated line operational so when we talk about production capacity for 20 000 i personally believe that's a very conservative production capacity number


We knew that in the complement system, absolute precision should be the highest goal, and that through absolute precision, we could develop much more targeted medicines for better health.

we knew that in the complement system absolute precision should be the highest goal and that through absolute precision we could develop much more targeted medicines for better health


The expansion of Middle East, North Africa and the Asian refinery capacity will provide new trade flows of refined products exports from East to West.

the expansion of middle east north africa and asian refining capacity will provide new trade flows of refined products exports from east to west


Does that directly impact us? I mean, I don't know if we can make the direct correlation, but yes, it certainly impacts the market. I mean, you've got all those additional rooms by the convention center sucking up

does that directly impact us i mean i don't know if we can make the direct correlation but yes it certainly impacts the market i mean you've got all those additional rooms by the convention center sucking up


Factors that could cause actual results to differ materially include those risks and uncertainties described from time to time in our filings with the Securities and Exchange Commission,

factors that could cause actual results to differ materially include those risks and uncertainties described from time to time in our filings with the securities and exchange commission


The U.K. and Ireland market remains uncertain in the wake of Brexit and the upcoming general election. This is mitigated somewhat by the opportunity to participate in significant infrastructure projects.

the u k and ireland market remains uncertain in the wake of brexit and the upcoming general election this is mitigated somewhat by the opportunity to participate in significant infrastructure projects


The investment in underlying operating margin is primarily commercial investments and activities to continue to build the customer base.

the investment in underlying operating margin is primarily commercial investment and activities to continue to build the customer base


Digital, which is a statement of the obvious for most of us, has not always historically been the case at Informa. And now that is pretty much the watchword through all of our businesses, and I'll bring that to life a little bit later.

digital which is a statement of the obvious for most of us has not always historically been the case at informa and now that is pretty much the watchword through all of our businesses and i'll bring that to life a little bit later


back to business in a very normal way. Obviously, we do need to finish our remediation efforts. But it's not requiring any significant amount of investment, and the businesses is sort of back on track.

back to business in a very normal way obviously we do need to finish our remediation efforts but it's not requiring any significant amount of investment and the business is sort of back on track


We posted another quarter strong year-over-year growth, driven primarily by the multiple acquisitions we completed within the last 12 months and the organic growth from the assets in the portfolio.

we posted another quarter of strong year-over-year growth driven primarily by the multiple acquisitions we completed within the last 12 months and the organic growth from the assets in the portfolio


And as we do, we continue to receive important third-party recognition for the healthfulness of our menu, including some recent accolades from Health Magazine and Men's Health.

and as we do we continue to receive important third-party recognition for the healthfulness of our menu including some recent accolades from health magazine and men's health


The collective and broad impact we have seen in children treated with AVXS-101 on many aspects of the disease, enabling them to develop in the best possible manner is truly remarkable.

the collective and broad impact we have seen in children treated with avexis 101 on many aspects of the disease enabling them to develop in the best possible manner is truly remarkable


We would like to begin what we expect to be a series of discussions during our earnings calls on topical matters relevant to Vistra and the overall power industry.

we would like to begin what we expect to be a series of discussions during our earnings calls on topical matters relevant to vistra and the overall power industry


Our channel program continues to grow nicely and is yielding results beyond our expectations. For example, bookings for master agents and resellers represented more than 25% of our enterprise bookings in the second quarter.

our channel program continues to grow nicely and is yielding results beyond our expectation for example bookings from master agents and resellers represented more than 25% of our enterprise bookings in the second quarter


are ordering much more, and the growth in the amount of what they order is growing much faster than with the people who have -- who order lesser amounts of Parcels. It shows you

are ordering much more and the growth in the amount of what they order is growing much faster than with the people who have -- who order lesser amounts of parcels it shows you


products that seem to be a little bit more targeted to mainstream versus your legacy portfolio that's more of a niche activity tracker for marathon trainers and things like that.


Our investment in innovation has resulted in increased market share and industry-wide recognition. Garmin was recently honored as Manufacturer of the Year by the National Marine Electronics Association.

our investment in innovation has resulted in increased market share and industry-wide recognition garmin was recently honored as manufacturer of the year by the national marine electronics association


Our recent investment in strengthening the leadership team will ensure that the international business gets the focus it requires as it continues to grow in both size and complexity.

our recent investment in strengthening the leadership team will ensure that the international business gets the focus it requires as it continues to grow in both size and complexity


which means that the rate of our charges are slowing as compared to what we took in the first half of the year. My expectations

which means that the rate of our charges are slowing as compared to what we took in the first half of the year my expectations


The product keeps getting better with each major release, and we believe this could become a large-scale incremental opportunity for us globally, not just in Europe,

the product keeps getting better with each major release and we believe this could become a large-scale incremental opportunity for us globally not just in europe


to which extent you're still working on older contracts where you're kind of now feeling the input cost inflation the most and to which extent


On the top line, still improving the result, reducing the loss for the quarter I think is a good indication. A lot of good work is being done here by the colleagues,

on the top line still improving the result reducing the loss for the quarter i think is a good indication a lot of good work is being done here by the colleagues


over prior first quarters of past years. As I said before, our intent is to measure our performance against the industry and close the performance gap in meaningful ways, like it's never been done at USA Truck before.

over prior first quarters of past years as i've said before our intent is to measure our performance against the industry and close the performance gap in meaningful way like has never been done at usa truck before


of our clients around the globe, we must focus on assets that align more closely to our vision and position the brand competitively in the marketplace. Through the process that began a year ago,

of our clients around the globe we must focus on assets that align more closely to our vision and position the brand competitively in the marketplace through the process that began a year ago


and the renewal of our agreement with Intermountain which resulted in a catch-up contribution in Q3. Before I walk you through the details of the results, I would like to remind you that we will be referencing non-GAAP numbers,

and the renewal of our agreement with intermountain which resulted in a catch-up contribution in q3 before i walk you through the details of the results i would like to remind you that we will be referencing non-gaap numbers


As cloud adoption in a given country reaches a certain threshold, cloud providers initially deploy network nodes to channel that demand from the local enterprises back to centralized compute notes.

as cloud adoption in a given country reaches a certain threshold cloud providers initially deploy network nodes to channel that demand from the local enterprises back to centralized compute nodes


and we continued to see steady improvement in average unit prices as price increases more than offset some unfavorable mix due to the larger percentage of interior doors related to that new retail business.

and we continue to see steady improvement in average unit prices as price increases more than offset some unfavorable mix due to the larger percentage of interior doors related to that new retail business


I look at all of these categories as being significant inflationary features this year. It's down to the work that our sourcing and operations teams are doing to find productivity to offset them as much as possible.

i look at all of these categories as being significant inflationary features this year it's down to the work that our sourcing and operations teams are doing to find productivity to offset them as much as possible


So we've been working for several years to change that mix to a higher margin blend. We made progress all the way through 2017. Pricing across a lot of categories are improving.

so we've been working for several years to change that mix to a higher margin blend we made progress all the way through 2017 pricing across a lot of categories are improving


we have a relatively high tax rate compared to peers, largely due to the fact that we don't have much in the way of BOLI or munis. As a result, any reductions in corporate tax rate should flow straight to our bottom line.

we have a relatively high tax rate compared to peers largely due to the fact that we don't have much in the way of boli or munis as a result any reductions in corporate tax rates should flow straight to our bottom line


the individual store managers and their markets have the latitude to do what they need to do in their local market to be competitive, manage their inventory and maximize their profitability.

the individual store managers and their markets have the latitude to do what they need to do in their local market to be competitive manage their inventory and maximize their profitability


As we reshape our business, we also continue to simplify our balance sheet and make sure that it's appropriate for not just our business model, but also our shareholders.

as we reshape our business we also continue to simplify our balance sheet and make sure that it's appropriate for not just our business model but also our shareholders


In summary, we feel good about the business and earnings growth we delivered in 2017. We plan to remain focused on our strategic priorities of growing our core business and executing with excellence.

in summary we feel good about the business and earnings growth we delivered in 2017 we plan to remain focused on our strategic priorities of growing our core business and executing with excellence


Until now, we have required that all implementation services be contracted by us, and then we subcontract the work to our implementation partners as needed.

until now we have required that all implementation services be contracted by us and then we subcontract the work to our implementation partners as needed


to the way we approach our business overall. And we think what that will do is allow us to also begin to bring down expenses more effectively and more permanently. So

to the way we approach our business overall and we think that that -- what that will do is allow us to also begin to bring down expenses more effectively and more permanently so


they are not a pain, nor do you need to take any precautionary measures when you go for an MRI. So that late launch will obviously have an impact into how we think about the second half for the cochlear implant business.

they're not a pain nor do you need to take any precaution measures when you go for an mri so that late launch will obviously have an impact into how we think about the second half of the cochlear implant business


and they are developed in different steps and different stages. Innolux is one of the first manufacturers working on this. We have improved the module assembly lines.

and they are developed in different steps and different stages enelx is one of the first manufacturers working on this we have improved the module assembly lines


This was particularly on the East Coast of Australia and Indonesia. Our group volumes are high -- slightly up but still within the guidance range that we disclosed in the market in November of last year.

this was particularly on the east coast of australia and in indonesia our group volumes are slightly up but still within the guidance range that you disclosed in the market in november of last year


for your interest in our Happiness Ecosystem. If you look at FOLIDAY and Yuyuan, they are very important platforms and groups

for your interest in our happiness ecosystem if you look at follday and yuyuan they are very important platforms and groups


As we progress with the advancement of our pipeline, we believe our strategy and these products will allow Enzo to potentially reshape the delivery of diagnostic services.

as we progress with the advancement of our pipeline we believe our strategy and these products will allow enzo to potentially reshape the delivery of diagnostic services


We're finding out now that, as we start rolling this out, we've got to kick up production, and we'll pick up that going through

we're finding out now that as we start rolling this out we've got to kick up production and we'll pick up that going through


We were very encouraged, not only by the percentage of patients reporting improvements in this portion of the study, but also by their request to continue therapy beyond a single dose, which led to the addition of Part C to the study.

we were very encouraged not only by the percentage of patients reporting improvements in this portion of the study but also by their request to continue therapy beyond a single dose which led to the addition of part c to the study


Most importantly, I find talented and committed people throughout the organization, with a very strong executive leadership team in place.

most importantly i found talented and committed people throughout the organization with a very strong executive leadership team in place


This change is a direct result of our balanced growth strategy. As a reminder, the deposits that we raise through the broker market are entirely fixed-term deposits with terms of maturity between 1 and 5 years.

this change is a direct result of our balanced growth strategy as a reminder the deposits that we raise through the broker market are entirely fixed-term deposits with terms to maturity between 1 and 5 years


So a lot of the coverage and exposure we're getting helps to reinforce the ability of our modular hardware and software to serve the growing number of smart connected wireless devices.

so a lot of the coverage and exposure we're getting helps reinforce the ability of our modular hardware and software to serve the growing number of smart connected wireless devices


Notwithstanding the tight Hawaii labor market, we've been successful in hiring experienced talent to nearly complete our in-house asset management and leasing teams. We've brought the property management functions

notwithstanding the tight hawaii labor market we've been successful in hiring experienced talent to nearly complete our in-house asset management and leasing teams we've brought the property management functions


It means a lot to all of us at PayPal that our platform can be used to make such a large difference to nonprofits and charities across the globe. 2018 was a strong year for us

it means a lot to all of us at paypal that our platform can be used to make such a large difference to nonprofits and charities across the globe 2018 was a strong year for us


some people wanting to benefit from tax reform and all kinds of other interesting ideas. But I think the demand is out there, the reality of these cost headwinds is out there and so it's been

some people were wanting to benefit from tax reform and all kinds of other interesting ideas but i think the demand is out there the reality of these cost headwinds is out there and so it's been


based on further clarifications provided by the Department of Finance regarding the grandfathering of mortgages originated prior to November 30, we revised our estimate and now anticipate a 25% to 35% reduction

based on further clarifications provided by the department of finance regarding the grandfathering of mortgages originated prior to november 30 we revised our estimate and now anticipate a 25% to 35% reduction


Sure. Thanks for the question, Matt. I think maybe not quantitatively because it's only been a month, but I can tell you that the local countries are super excited

sure thanks for the question matt i think maybe not quantitatively because it's only been a month but i can tell you that the local countries are super excited


To give you more detail on this restatement, we use an internally derived standard currency exchange rate for our constant currency sales and reporting segment results. This standard FX approach is designed to give a more consistent long-term view of results.

to give you more detail on this restatement we use an internally derived standard currency exchange rate for our constant currency sales and reporting segment results this standard fx approach is designed to give a more consistent long-term view of results


We continue to find efficiencies in our business, stemming from simplified structure, productivity initiatives such as our cloud migration project and from discontinuing unprofitable ventures like getTalent and our local China presence.

we continue to find efficiencies in our business stemming from simplified structure productivity initiatives such as our cloud migration project and from discontinuing unprofitable ventures like gettalent and our local china presence


together with the strong supply growth and pipeline takeaway constraints from Western Canada, gives us confidence that we will be able to see high utilization of the partnership's liquids pipeline systems. Please turn to Slide 6. Now

together with the strong supply growth and pipeline takeaway constraints from western canada gives us confidence that we will be able to see high utilization of the partnership's liquids pipeline systems please turn to slide 6


So I would say, we're there in China, we are committed to being there long term and being a significant competitor in our businesses,

so i would say we're there in china we are committed to being there long term and being a significant competitor in our businesses


I'm extremely pleased with this progress and give our diverse sourcing channels and strong balance sheet, we should be able to continue to grow the credit portfolio from here to support further growth of earnings and ultimately the growth of our dividend.

i'm extremely pleased with this progress and given our diverse sourcing channels and strong balance sheet we should be able to continue to grow the credit portfolio from here to support further growth of earnings and ultimately the growth of our dividend


For the third quarter, we continued to benefit from having direct control of our fragrance category which enables us to deliver sought-after brands in incremental values.

for the third quarter we continued to benefit from having direct control of our fragrance category which enables us to deliver sought-after brands and incremental values


and the scalability essentially of CAR-T. We know hospitals and providers have significant concerns about the payment models and the total cost associated with currently approved T-cell therapies.

and the scalability essentially of car-t we know hospitals and providers have significant concerns about the payment models and the total costs associated with currently approved t-cell therapies


they are looking for it. They want to know where the products are coming from and that is what we are working towards, and we have already reached a very high level what you will hear later.

they are looking for it they want to know where the products are coming from and that is what we are working towards and we have already reached a very high level what you will hear later


We are continuously working to optimize our well designs and improve operational execution to control our cost and increase well productivity and keeping with our focus on rate of return, along with production growth.

we are continuously working to optimize our well designs and improve operational execution to control our cost and increase well productivity in keeping with our focus on rate of return along with production growth


Slide 19 shows some of the innovation we introduced, which includes new varieties and on-trend flavors and reflects our focus on optimizing price pack architecture with multiple product configurations.

slide 19 shows some of the innovation we introduced which includes new varieties and on-trend flavors and reflects our focus on optimizing price pack architecture with multiple product configurations


I think you're right, Joe. I mean, clearly we've had some good traction in terms of large deal signings and in terms of new client adds over the past couple of quarters, and you've seen

yes i think you're right joe i mean clearly we've had some good traction in terms of large deal signings and in terms of new client adds over the past couple of quarters and you've seen


the pest business really takes off when you have some density. And so what we've been able to do in a number of what I would call is the Asia Pacific and Latin America markets

the pest business really takes off when you have some density and so what we've been able to do in a number of like what i would call is the asia pacific and latin america markets


how much of the AmTrust reserves are late to the programs business, or even what would be even better if you have it is, how much relates to these discontinued programs that the reserve charge relates to?

how much of the amtrust reserves relate to the programs business or even what would be even better if you have it is how much relates to these discontinued programs that the reserve charge relates to


the fact that it encompassed the holiday season makes it a little hard to quantify. But in any case, it's entirely too early to assess what impact they may have on us going forward, though it doesn't appear to be dramatic so far.

the fact that it encompasses the holiday season makes it a little hard to quantify but in any case it's entirely too early to assess what impact they may have on us going forward though it doesn't appear to be dramatic so far


we continued the effort, or I continued and Roland continued the effort of meeting customers, talking to analysts, doing the work to validate our strategy to hear what the customers were going to do with their integration needs

we continued the effort or i continued and rylan continued the effort of meeting customers talking to analysts doing the work to validate our strategy to hear what the customers were going to do with their integration needs


We believe our revenue cycle management program has the potential of significantly improve the profitability of our diagnostics business and look forward to providing further updates of our progress on future calls.

we believe our revenue cycle management program has the potential to significantly improve the profitability of our diagnostics business and look forward to providing further updates of our progress on future calls


that there's going to come a point where there's more increases coming from manufacturers. That would trigger more increases coming from distributors, certainly coming from us. And to date, my expectation would be that realization is good, particularly in this environment.

that there's going to come a point where there's more increases coming from manufacturers that would trigger more increases coming from distributors certainly coming from us and to date my expectation would be that realization is good particularly in this environment


lesser actual levels of product returns and the beneficial impact of truing up the associated gross to net accruals that had the effect of magnifying the improvement in gross to nets when looking at the quarter in isolation.

lesser actual levels of product returns and the beneficial impact of truing up the associated gross-to-net accruals that have the effect of magnifying the improvement in gross-to-net when looking at the quarter in isolation


And it's a very stable market. I think I would characterize it as very strong. To your benefit in the community, there's a lot of competition there, and

and it's a very stable market i think i would characterize it as very strong to your benefit in the community there is a lot of competition there and


the vividness of these colors, how well they perform in various storage- and production-type operations. So there's still growth even to be had in Europe, which, on the natural color spectrum, would be viewed as a more mature market.

the vividness of these colors how well they perform in various storage and production type operations so there's still growth even to be had in europe which on the natural color spectrum would be viewed as a more mature market


given that some of the upstream producers are also owners of the export facilities, they will look to export part of this new production.

given that some of the upstream producers are also owners of the export facilities they will look to export part of this new production


So this is a major initiative that should improve the quality of service, the frequency of contact, the context of advice, and ultimately, also the performance for the client

so this is a major initiative that should improve the quality of service the frequency of contact the context of advice and ultimately also the performance for the client


come down by 32 basis points, especially in a year when we were investing so heavily in the business to drive new capabilities like consumer brands, digital, store sport and analytics, to mention a few.

come down by 32 basis points especially in a year when we were investing so heavily in the business to drive new capabilities like consumer brands digital store support and analytics to mention a few


So on the Olympics side, Ross, let me jump on that one. So we are very excited to have a special event like the Winter Olympics, and we believe Snap community will really enjoy what we have there. We're also excited to be the biggest mobile partner there.

so on the olympic side ross let me jump on that one so we are very excited to have a special event like the winter olympics and we believe snap the community will really enjoy what we have there we're also excited to be the biggest mobile partner there


I guess as it relates -- it doesn't seem to be affecting you on originations, but when we think about, like, consolidations away from you guys, I mean are you guys seeing anything that's noticeable from a consolidation standpoint?

i guess as it relates -- it doesn't seem to be affecting you on originations but when we think about like consolidations away from you guys i mean are you guys seeing anything that's noticeable from a consolidation standpoint


But we still think the program can be a strong one. So we will take all of the factors into consideration when we -- as we plan our approach to the bidding process.

but we still think the program can be a strong one so we will take all of the factors into consideration when we -- as we plan our approach to the bidding process


So far in the fourth quarter, domestic metal pricing has continued to decline. At this time, we do not see any meaningful near-term catalyst to change the direction of pricing.

so far in the fourth quarter domestic metal pricing has continued to decline at this time we do not see any meaningful near-term catalyst to change the direction of pricing


The next area of growth we discussed at our convention is our wholesale business. Our wholesale division sells products for the company retail division as well as to all outside customers.

the next area of growth we discussed at our convention is our wholesale business our wholesale division sells products to the company retail division as well as to all outside customers


that, that was the right decision. So I don't mean to put a -- kind of a fly in the ointment, but yes, we're pushing for higher prices. We're trying to do so sustainably and responsibly. And in some cases, we picked network over price.

that that was the right decision so i don't mean to put kind of a fly in the ointment but yes we're pushing for higher prices we're trying to do so sustainably and responsibly and in some cases we pick network over price


Yesterday evening, we issued an earnings release discussing our first quarter results. We have also prepared a slide presentation, which we will refer to during these remarks.

yesterday evening we issued an earnings release discussing our first quarter results we have also prepared a slide presentation which we will refer to during these remarks


We believe that building systems, processes and partnerships that allow BofI to offer seamless user experience and multiple services through an integral software platform will further elevate and differentiate our competitive position.

we believe that building systems processes and partnerships that allow bia-vi to offer a seamless user experience and multiple services through an integrated software platform will further elevate and differentiate our competitive position


and third, we enjoy a customer and partner base approaching 1,000 organizations, among them some of the world's largest and most respected brands.

and third we enjoy a customer and partner base approaching 1 000 organizations among them some of the world's largest and most respected brands


We survived the craziness of the year 2000 with the regulators, and we are still trying to survive the craziness of the regulators today. I should get an amen on that one. Right.

we survived the craziness of the year 2000 with the regulators and we are still trying to survive the craziness of the regulators today i should get an amen on that one


and where that prevails, it gives us a better chance to make margin in that franchise. So I'm actually encouraged by the fact that one of the key brands has actually taken the step to reduce the level of targeting

and where that prevails it gives us a better chance to make margin in that franchise so i'm actually encouraged by the fact that one of the key brands has actually taken the step to reduce the level of targeting


The targeted return bond funds, the latter of those 2, which we think sort of has a corner office adviser appeal, is still finding its way onto platforms. As I think we've talked about in the past,

the targeted return bond fund the latter of those 2 which we think sort of has a corner office adviser appeal is still finding its way onto platforms as i think we've talked about in the past


We are also providing a directional annual EBITDA margin profile in total and for each of the 5 MOS categories

we are also providing a directional annual ebitda margin profile in total and for each of the 5 mos categories


different than what we've seen in other markets where we operate. I am not saying that it's going to be easy. It's a tough job to fight against our competitors and, of course, fight against private label,

different than what we've seen in other markets where we operate i'm not saying that it's going to be easy it's a tough job and to fight against our competitors and of course fight against private label


and this is thanks to restructuring in supply chain, closing down factories and also through continuous efficiency in our operations.

and this is thanks to restructuring in supply chain closing down factories and also through continuous efficiency in our operations


by investing in our balance sheet, we're obviously generating some pretty exciting, we think, investment income. But more importantly, we're largely making those investments in support of the raising of new funds.

by investing in our balance sheet we're obviously generating some pretty exciting we think investment income but more importantly we're largely making those investments in support of the raising of new funds


at earliest, 3 years from the day of the potential decision to cancel the agreement. But also there, we can confirm that there is no indication at all that

at earliest 3 years from the day of the potential decision to cancel the agreement but also there we can confirm that there is no indication at all that


we once again executed well this quarter. For Acthar, we're pleased with the performance trajectory of the product where year-over-year sales declines are narrowing. We expect these trends to continue.

we once again executed well this quarter for acthar we're pleased with the performance trajectory of the product where year-over-year sales declines are narrowing we expect these trends to continue


property funding conditions. Further important point for this semester, we've reached significant milestones in the integration of our German operations.

property funding conditions third important point for this semester we've reached significant milestones in the integration of our german operations


projects that we have in the TKH Group are doing quite well in the execution, and that has now also translated into a very positive result of the organic growth.

projects that we have in the tkh group are doing quite well in the execution and that is now also translated into a very positive result of the organic growth


We also firmly believe that we have the properties, the people and the platform necessary to execute our strategy for the ongoing benefit of our unit holders.

we also firmly believe that we have the properties the people and the platform necessary to execute our strategy for the ongoing benefit of our unitholders


So as you know, in the majority of our steel businesses, we have direct pass-through of that to our customer. So while that'll have some topline impact on us, it should not really have any meaningful bottom line impact

so as you know in the majority of our steel businesses we have direct pass-through of that to our customers so while that will have some top line impact on us it should not really have any meaningful bottom line impact


impact of this new accounting standard primarily impacts the company's Payments business, requiring a net versus gross reporting of revenues and cost of revenues for our cash access services.

the impact of this new accounting standard primarily impacts the company's payments business requiring a net versus gross reporting of revenues and cost of revenues for our cash access services


And quite frankly, we're a little late to the table in rationalizing our cost structure around servicing that industry, but you can bet we're going to be very aggressive doing so in the third and fourth quarter

and quite frankly we're a little late to the table in rationalizing our cost structure around servicing that industry but you can bet we're going to be very aggressive doing so in the third and fourth quarter


Our guidance assumes an improvement in the Investment Markets' revenue trend relative to what we've seen in the first half of the year where the year-over-year comparisons were more difficult.

our guidance assumes an improvement in the investment markets revenue trend relative to what we've seen in the first half of the year where the year-over-year comparisons were more difficult


for projects for us is the industrial space. The 2 biggest components of that are the combination of upstream and midstream and then downstream. And the total spend,

for projects for us is the industrial space the 2 biggest components of that are the combination of upstream and midstream and then downstream and the total spend


Chris will cover the financials in more detail in a few minutes, but I'm pleased to say, we are on track to deliver the top line guidance we have provided for 2016 and are making progress towards sustained profitability.

chris will cover the financials in more detail in a few minutes but i'm pleased to say we are on track to deliver the top line guidance we have provided for 2016 and are making progress towards sustained profitability


Yes, I think our anticipation is that we start off with the PH1 and PH2 patients in the first quarter of next year, and soon thereafter

yes i think our anticipation is that we start off with the ph1 and ph2 patients in the first quarter of next year and soon thereafter


and then also in the corporate segment. So if we look at our motor business, on one hand, we should say that

and then also in the corporate segment so if we look at our motor business on one hand we should say that


Thanks to the early progress we made on the supply recovery milestones and meaningful engagement with the broader organization focused on culture building, including very specific interactions with the field sales organization.

thanks to the early progress we made on the supply recovery milestones and meaningful engagement with the broader organization focused on culture building including very specific interactions with the field sales organization


So again, not a major concern. It's not far off of our expectations in the -- what we assumed so far in the year. And the performance of EMEA throughout the rest of the year is already contemplated

so again not a major concern it's not far off of our expectations in the -- in what we assumed so far in the year and the performance of emea throughout the rest of the year is already contemplated


sort of an intentional pull back on the timing of some of the consumer promotion work and that was mainly around the New York Frozen as we were having supply constraints. As you might expect, we pulled back on advertising because there was no

sort of an attentional pullback on the timing of some of the consumer promotion work and that was mainly around the new york frozen as we were having supply constraints as you might expect we pulled back on advertising because there was no


Jim? Thank you, Nick. Within Ag, our priorities this year continue to be centered on building a strong, innovative business that is a leader in the industry both now and in the future.

jim thank you nick within ag our priorities this year continue to be centered on building a strong innovative business that is a leader in the industry both now and in the future


free cash, particularly in the types of markets that we're seeing right now, which would lead to even meeting the various capital goals or capital investments you have.

free cash particularly in the types of markets that we're seeing right now which would lead to even meeting the various capital goals or capital investments you have


In Q3, we continued to grow our user base adding more than 1 million net users, amounting to a total user base of more than 33 million subscribers.

in q3 we continued to grow our user base adding more than 1 million net users amounting to a total user base of more than 33 million subscribers


If you just think generally about any job you can think of today, 5 or 10 years from now, that job is going to be dramatically different because of technology. And the skills you need to do that new job

if you just think generally about any job you can think of today 5 or 10 years from now that job is going to be dramatically different because of technology and the skills you need to do that new job


in the fourth quarter, where it underperformed, actually, the most of all of our 6 business categories, and also for the year, where it was similar in terms of underperformance. And

in the fourth quarter where it underperformed actually the most of all of our 6 business categories and also for the year where it was similar in terms of underperformance and


Well, I think there's no question, Bernie. I think you had a question in there somewhere. But I think what you're asking is, what are we doing to make our value more clear to customers? And so

well i think there's no question bernie i think you had a question in there somewhere but i think what you're asking is what are we doing to make our value more clear to customers and so


income and earnings in the second half of fiscal year 2016 are expected to be driven by the steady operational and financial progress of certain programs in start-up

income and earnings in the second half of fiscal year 2016 are expected to be driven by the steady operational and financial progress of certain programs and startup


And this focus is set to continue. From fiscal '17, we will increase efficiency as agency costs and point-of-sale spend will be managed through global procurement.

and this focus is set to continue from fiscal '17 we will increase efficiency as agency costs and point-of-sale spend will be managed through global procurement


The strength of employee engagement is evidence that, across Diageo, people share my view that change has built a stronger company that everyone is proud to be a part of.

the strength of employee engagement is evidence that across the agio people share my view that change has built a stronger company that everyone is proud to be a part of


So the demand for quality AVOD offerings is clearly huge and will continue to grow rapidly as more and more consumers make their choices in the OTT space.

so the demand for quality avod offerings is clearly huge and will continue to grow rapidly as more and more consumers make their choices in the ott space


Turning to Slide 11. The primary schemes that contribute to incentive revenues include the interruption incentive schemes and the broad measure of customer satisfaction.

turning to slide 11 the primary schemes that contribute to incentive revenues include the interruption incentive schemes and the broad measure of customer satisfaction


My comments on financial performance and the outlook for 2017 will, therefore, be made on the basis of the current group structure, excluding India.

my comments on financial performance and the outlook for 2017 will therefore be made on the basis of the current group structure excluding india


as well as the evolution of Insulation volumes and pricing as they progress through the first half of the year. So I think we'll get better visibility probably as we get into our second quarter earnings call. I think we're appropriately cautious

as well as the evolution of insulation volumes and pricing as they progress through the first half of the year so i think we'll get better visibility probably as we get into our second quarter earnings call i think we're appropriately cautious


rolling of business either as greater synergy or in the enhancing capacities, enhancing what we currently do or adding in an area where we want to add to what we do. So that's

rolling our business either as greater synergy or in the -- sorry enhancing capacities enhancing what we currently do or adding in an area where we want to add to what we do so that's


Our focus on the semiconductor industry, the diversity of our portfolio and our financial strength position us well to capitalize on these catalysts for profitable growth.

our focus on the semiconductor industry the diversity of our portfolio and our financial strength position us well to capitalize on these catalysts for profitable growth


And so we're trying to figure out how we can do that and stage that, because what happens with custom cutters, if they hit rain, they hit wet conditions,

and so we're trying to figure out how we can do that and stage that because what happens with custom cutters if they hit rain they hit wet conditions


There is some stress in those commodities. It has been a rough period of time over the past several months, maybe even up to a year, for both dairy and ranching. We have not seen any degradation in our portfolio.

there is some stress in those commodities it has been a rough period of time over the past several months maybe even up to a year for both dairy and ranching we have not seen any degradation in our portfolio


We see strong interest for our farm equity AgVantage financing from existing and potential new counterparties. We are also working hard to expand the rest of our institutional credit line of business to new agricultural lenders, including large insurance companies.

we see strong interest for our farm equity agvantage financing from existing and potential new counterparties we are also working hard to expand the rest of our institutional credit line of business to new agricultural lenders including large insurance companies


We're already on our way with a full launch of Basic Economy across our domestic system on September 5. Our careful planning and measured rollout over the summer has resulted in a very successful launch with no disruption.

we're already on our way with a full launch of basic economy across our domestic system on september 5 our careful planning and measured rollout over the summer has resulted in a very successful launch with no disruption


It's a strong vote of confidence and will benefit the company by extending the maturities, providing a lower overall weighted average interest rate and offering more flexibility to the company.

it's a strong vote of confidence and will benefit the company by extending the maturities providing a lower overall weighted average interest rate and offering more flexibility to the company


Sherry will provide details on the short-term effects of the new law on our tax rate, but before she does, I would like to share my thoughts on capital allocation and the new opportunities created for Waters under the new tax laws.

sherry will provide details on the short-term effects of the new law on our tax rate but before she does i would like to share my thoughts on capital allocation and the new opportunities created for waters under the new tax laws


saying that they will be needing more trailers and plan to order more trailers. Other cases, the numbers are about the same, and in some cases, the numbers are less. So it varies.

saying that they will be needing more trailers and plan to order more trailers other cases the numbers are about the same and in some cases the numbers are less so it varies


And so taking those best practices, using our buying power to make sure that we're allowing dealers to buy all the materials they need for the installation,

and so taking those best practices using our buying power to make sure that we're allowing dealers to buy all the materials they need for the installation


less so for the Mexican peso, they are stronger than what is in our budget and for the Q1 average. So we do anticipate that there will be some impact to our costs.

less so for the mexican peso they are stronger than what is in our budget and for the q1 average so we do anticipate that there will be some impact to our costs


are concentrated in 10 clients. We monitor these clients and the collateral held on an individual basis to ensure that solutions are applicable to each specific environment. We then work closely

are concentrated in 10 clients we monitor these clients and the collateral held on an individual basis to ensure that solutions are applicable to each specific environment we then closely


Pricing is very competitive this year in the Truckload market. Given the low price of fuel and the plentiful truck capacity, we see more intermodal volume convert to truck than in previous years.

pricing is very competitive this year in the truckload market given the low price of fuel and the plentiful truck capacity we see more intermodal volume convert to truck than in previous years


This industry is going through some basic transformations in China. So concerning this segment's performance in the first half,

this industry is going through some basic transformations in china so concerning this segment's performance in the first half


what ability Par has to launch its own generic starting the end of 2025? And whether they would need to have their own independent REMS program in order to launch that?

what abilitypar has to launch its own generic starting the end of 2025 and whether they would need to have their own independent rems program in order to launch that


Ladies and gentlemen, thank you for participating in today's conference. This does conclude the program, and you may all disconnect. Everyone, have a great day.

ladies and gentlemen thank you for participating in today's conference this does conclude the program and you may all disconnect everyone have a great day


We've been very effective at going to new vendors and being able to contain the cost increases on poly quite effectively over the last 8 years.

we've been very effective at going to new vendors and being able to contain the cost increases on poly quite effectively over the last 8 years


then looking back, don't forget that 2017 was not that an easy year from sentiment as well in Europe. When I come to the whole trading environment and there you have to see

when looking back don't forget that 2017 was not that an easy year from sentiment as well in europe i come to that whole trading environment and there you have to see


it could be either through more -- a reallocation down the road, a reset down the road. It's really kind of hard to say what will happen, but I think what has happened is now something we have to deal with from a market perspective.

it could be either through more -- a reallocation down the road a reset down the road it's really kind of hard to say what will happen but i think what has happened is now something we have to deal with from a market perspective


And I think also, there was -- obviously, you had to do a lot of prep work to kind of accept the carve-out into your enterprise. But I think after ownership, you were looking at some pretty heavy

and i think also there was -- obviously you had to do a lot of prep work to kind of accept the carve out into your enterprise but i think after ownership you were looking at some pretty heavy


Our results truly highlight the high level of execution we have demonstrated over the past several years, but especially during the last 5 quarters as well as the progress we've made to grow and diversify the company.

our results truly highlight the high level of execution we have demonstrated over the past several years but especially during the last 5 quarters as well as the progress we've made to grow and diversify the company


We have changed the fundamental composition of our business and continue to strive to make additional improvement to grow margins and share a more stable earnings stream and take advantage of macro growth trends.

we have changed the fundamental composition of our business and continue to strive to make additional improvement to grow margins ensure a more stable earnings stream and take advantage of macro growth trends


which I'd say isn't doing us or anyone -- others any favors. Our expectation of continued solid performance is a reflection of our business model and our ability to minimize volatility within our results,

which i'd say isn't doing us or anyone else any favors our expectation of continued solid performance is a reflection of our business model and our ability to minimize volatility within our results


do you think there might be an opportunity to double back on the senior secured note offering that you had contemplated earlier in the year? Maybe when activity levels were less predictable and there was some

do you think there might be an opportunity to double back on the senior secured note offering that you had contemplated earlier in the year maybe when activity levels were less predictable and there was some


With growth accelerating throughout 2017 in our Generics and contract manufacturing market units, we expect a stronger second half of 2017 compared to the first half.

with growth accelerating throughout 2017 in our generics and contract manufacturing market units we expect a stronger second half of 2017 compared to the first half


with close to 1,000 pictures being uploaded and posted by customers. And we're really focused on those marketing efforts to remind people to take advantage of the 100 days of camping.

with close to a thousand pictures being uploaded and posted by customers and we're really focused on those marketing efforts to remind people to take advantage of the 100 days of camping


Information presented on this call is contained in the earnings release we issued this morning and in our Form 8-K dated April 17, 2018, which may be accessed from the investors page of the company's website.

information presented on this call is contained in the earnings release we issued this morning and in our form 8-k dated april 17 2018 which may be accessed from the investors page of the company's website


Our Cosmetic group has a strong innovation program, which allows us to develop solutions for a wide range of ingredients, including makeup, skin, nail and hair care and hair colors.

our cosmetic group has a strong innovation program which allows us to develop solutions for a wide range of ingredients including makeup skin nail and hair care and hair colors


Performance in Massachusetts has started to improve as the new rates in the electric business came into effect. We expect to see a more significant impact from returns at these new rates next year.

performance in massachusetts has started to improve as the new rates in the electric business came into effect we expect to see a more significant impact on returns of these new rates next year


The reduction in the daily rate was driven by the contract extension for the South Texas residential center. Excluding this contract extension, the average rate would have increased.

the reduction in the daily rate was driven by the contract extension for the south texas residential center excluding this contract extension the average rate would have increased


in deferred maintenance. But importantly, that investment that we're making is driving momentum in small shop and it's also driving some of our rents. So we think it's the right thing to do

in deferred maintenance but importantly that investment that we're making is driving momentum in small shop and it's also driving some of our rents so we think it's the right thing to do


is that we're capitalizing on what we're doing with these larger boxes and anchors as follow-through throughout the portfolio. And frankly, we're setting new records as it relates to small shop rents.

is that we're capitalizing on what we're doing with these larger boxes and anchors as follows through throughout the portfolio and frankly we're setting new records as it relates to small shop rents


It was clearly a tough quarter. Our Manitowoc facility had been performing above expectations for most of the year, they experienced quality issues with the supply chain and challenges in paint production.

it was clearly a tough quarter our managed walk facility had been performing above expectations for most of the year they experienced quality issues with the supply chain and challenges in paint production


Because steel is essentially a pass-through to our customers, this doesn't impact our economics, but does change the reported order number. For the 9 months, orders are slightly above last year despite the pricing adjustment.

because steel is essentially a pass-through to our customers this doesn't impact our economics but does change the reported order number for the 9 months orders are slightly above last year despite the pricing adjustment


We strongly believe that such policies, guidances and regulations will help shape the industry into a healthier and a more sustainable form in the long run.

we strongly believe that such policies guidances and regulations will help shape the industry into a healthier and more sustainable form in the long run


Duncan has made a substantial contribution to our company over the last 9 years, and I'd like to thank him for seeing the company through to year-end disclosures, and we wish him every success with his new endeavors.

duncan has made a substantial contribution to our company over the last 9 years and i'd like to thank him for seeing the company through to year-end disclosures and we wish him every success with his new endeavors


When you look at the Well Worn campaign, I think it's pretty obvious there's a marked statement there that we're going to be seeking a new generation of Canadians not at the expense of the ones that are currently loyal to Mark's, of course,

when you look at the well-worn campaign i think it's pretty obvious there's a marked statement there that we're going to be seeking a new generation of canadians not at the expense of the ones that are currently loyal to marks of course


I'll then return and discuss the progress we're making on our Growth Acceleration Programme and say a few words about our outlook for 2019. My first year at Rotork has been one of change and significant progress.

i'll then return and discuss the progress we're making on our growth acceleration program and say a few words about our outlook for 2019 my first year at rotork has been one of change and significant progress


And then services even in the province of Manitoba that MTS may have purchased from other carriers such as Zayo, we'll obviously make sure we supply those through Bell. So those are some of the

and then services even in the province of manitoba that mts may have purchased from other carriers such as azaleo will obviously make sure we supply those through bell so those are some of the early


there are some fundamental trends that are -- they're going to start to move our way with admonishment I always give that things happen slowly in both addiction and the psychiatry notwithstanding the amount of data that's mounting in support of use of medicines like ours.

there are some fundamental trends that are going to start to move our way with the admonishment i always give that things happen slowly in both addiction and psychiatry notwithstanding the amount of data that's mounting in support of use of medicines like ours


for you basically that from now on, we get stability and then improvement so the absolute working capital starts to come down? Or is this just about slowing of the build of working capital?

for you basically that from now on we get stability and then improvement so the absolute working capital starts to come down or is this just about slowing off the build of working capital


despite very challenging pricing, primarily related to stainless flat-rolled. We sell a significant amount of stainless steel flat products into the kitchen equipment, appliance and construction end markets.

despite very challenging pricing primarily related to stainless flat rolled we sell a significant amount of stainless steel flat products into the kitchen equipment appliance and construction end markets


you make those commitments with customers, looking that far out, how much optionality does the customer have that you've needed to build into those contracts, on things like

as you make those commitments with customers looking that far out how much optionality does the customer have that you've needed to build into those contracts on things like


so I think we're doing well there. And Brazil has just been slower than we expected. A number of things have changed, the economy's not as strong. There's some political stuff going on and the legislation that we expected,

so i think we're doing well there and brazil has just been slower than we expected a number of things have changed the economy is not as strong there's some political stuff going on and the legislation that we expected


We feel that Oculus is in the best shape that we've ever been in for 2 reasons. One, Oculus has effectively executed a turnaround strategy in a very attractive dermatology market,

we feel that oculus is in the best shape that we've ever been in for 2 reasons one oculus has effectively executed a turnaround strategy in a very attractive dermatology market


Important assumptions include our ability to originate new investments, achieve certain margins and levels of profitability, the availability of additional capital and the ability to maintain certain debt to asset ratios.

important assumptions include our ability to originate new investments achieve certain margins and levels of profitability the availability of additional capital and the ability to maintain certain debt-to-asset ratios


To ensure we are focused on our customers at every level of the business, we have launched an executive sponsorship program targeted at strengthening relationships with our most vital customers around the world.

to ensure we are focused on our customers at every level of the business we have launched an executive sponsorship program targeted at strengthening relationships with our most vital customers around the world


we will now sell chipsets and enable low-cost manufacturing partners for subassemblies. This action is expected to result in better overall cost structures for our TOSA customers,

we will now sell chipsets and enable low-cost manufacturing partners for subassemblies this action is expected to result in better overall cost structures for our artosa customers


look, we're not going to forecast the business on products and services. We took a little bit of a risk this quarter just to simply say we intend to get rid of the brackets in services because, for us, we think that's a very important thing

look we're not going to forecast the business on products and services we took a little bit of a risk this quarter just to simply say we intend to get rid of the brackets and services because for us we think that's a very important thing


One interesting point on that partner, they had annual shortfall revenue in Q2 '16, but are now actively ramping and they have doubled their consumption of hours in October over September,

one interesting point on that partner they had annual shortfall revenue in q2 '16 but are now actively ramping and have doubled their consumption of hours in october over september


communications with them, along with the thorough investigation we've done, we hope we can end that at some time in the future. But at this time, we have no update on it whatsoever.

communications with them along with the thorough investigation we've done we hope we can end that at some time in the future but at this time we have no update on it whatsoever


and what would be the second publication to sort of validate the effect that, obviously, you're going to see an overall survival benefit in that patient population? And the last question is relative to the transcript.

and what would be the second publication to sort of validate the effect that obviously you're going to see an overall survival benefit in that patient population and the last question is relative to the transcript


We are testing on-site in attorney's offices a new attorney escrow product and working with our business lines to roll out a new overdraft privilege product for small businesses and commercial checking customers.

we are testing on-site at attorneys' offices a new attorney escrow product and working with our business lines to roll out a new overdraft privilege product for small businesses and commercial checking customers


Consistent with our 2020 Strategy, we're responding to these challenges by continuing to invest strongly in product and brand differentiation to keep our value propositions sharp.

consistent with our 2020 strategy we're responding to these challenges by continuing to invest strongly in product and brand differentiation to keep our value proposition sharp


The sale of the segment FRP is something that we actually consider as well as the preparation for our further growth ideas that we have. It will focus the management

the sale of the segment frp is something that we actually consider as well as the preparation for our further growth ideas that we have it will focus the management


This improved automation will reduce manual labor hours, which can be reinvested into more diligently analyzing data and more accurately identifying key trends in consumer behavior that help inform strategy.

this improved automation will reduce manual labor hours which can be reinvested into more diligently analyzing data and more accurately identifying key trends in consumer behavior that help inform strategy


To be clear, we aren't changing who we are. We're changing the conversation about what makes us unique and changing mindsets so we can change how the world sees us.

to be clear we aren't changing who we are we're changing the conversation about what makes us unique and changing mindset so we can change how the world sees us


that offsets whatever mitigation of usage might occur from the front lines of origination and underwriting. So we, historically, have never been too concerned about capital flows

that offsets whatever mitigation of usage might occur from the front lines of origination and underwriting so we historically have never been too concerned about capital flows


relative to expectations, if there was one business that was off, it would've been the Sports business and specifically related to attendance. I think the other thing that

relative to expectations if there was one business that was off it would have been the sports business and specifically related to attendance i think the other thing that


With respect to debt, one of the great features of our Master Funding program is our ability to prepay any series of notes within 24 months prior to maturity without a prepayment penalty.

with respect to debt one of the great features of our master funding program is our ability to prepay any series of notes within 24 months prior to maturity without a prepayment penalty


any metrics like what improvement you're seeing with load factor or other sort of metrics? Can you give us some of those to help us sort of gauge the impact that's having on the cost structure?

any metrics like what improvement you're seeing with load factor or other sort of metrics can you give us some of those to help us sort of gauge the impact it's having on the cost structure


kind of what he and the team are going to do to get this up, so that we can get it up to market occupancy, and our levels of occupancy that are really adjacent to this asset.

kind of what he and the team are going to do to get this up so that we can get it up to market occupancy and our levels of occupancy in -- that are really adjacent to this asset


Please member that MSA does not give guidance, and that precludes most discussion related to our expectations for future sales and earnings. Having said that, we will now open up the call for your questions.

please remember that msa does not give guidance and that precludes most discussion related to our expectations for future sales and earnings having said that we will now open up the call for your questions


I think, Benny, what we do is we look at the overall situation we're in and what the outlook looks like. I don't think we react on a sort of daily or a weekly basis based on the crude price or the natural gas price.

i think benny what we do is we look at the overall situation we're in and what the outlook looks like i don't think we react on a sort of daily or weekly basis based on the crude price or the natural gas price


I think it's going to be very similar to China. When you hear the commitment the Indian government has made and the environmental needs to move to this type of technology, there's number of drivers behind it.

i think it's going to be very similar to china when you hear the commitment the indian government has made and the environmental needs to move to this type of technology there's a number of drivers behind it


We also make certain compensation decisions based in part on our operating performance, as measured by adjusted EBITDA and our credit facility requires us to comply with the consolidated secured leverage ratio that includes performance metrics

we also make certain compensation decisions based in part on our operating performance as measured by adjusted ebitda and our credit facility requires us to comply with the consolidated secured leverage ratio that includes performance metrics


We will continue to look at the additional leases but only in the major U.S. and worldwide cities and use license and management deals to continue to expand beyond the 5 countries that we are currently operating in.

we will continue to look at traditional leases but only in the major u s and worldwide cities and use license and management deals to continue to expand beyond the 5 countries that we are currently operating in


We're tremendously proud of all that the team accomplished during the industrial downturn to optimize our infrastructure to capitalize on our growth initiatives and the eventual market rebound.

we're tremendously proud of all that the team accomplished during the industrial downturn to optimize our infrastructure to capitalize on our growth initiatives and the eventual market rebound


the guidance going out, do you have 2 or 3 additional shows already factored into that in addition to the 2 that you already opened this year or that be on the come based on when they open?

the guidance going out do you have 2 or 3 additional shows already factored into that in addition to the 2 that you already opened this year or would that be on the come based on when they open


At the close of the market today, Fluidigm released its financial results for the quarter ended September 30, 2018. I'd also like to let everyone know that our outdated investor presentation

at the close of the market today fludigm released its financial results for the quarter ended september 30 2018 i'd also like to let everyone know that our updated investor presentation


I would like to take some time to present to you with higher detail the current situation and business opportunities we are facing on the Integrated Security Solutions business line.

i would like to take some time to present to you with higher detail the current situation and business opportunities we are facing on the integrated security solution business line


Consequently, large outflows continue from certain flagship funds. We did, however, see international retail sales improve again this quarter, driven by a pickup in demand from clients in Asia and parts of Europe

consequently large outflows continue from certain flagship funds we did however see international retail sales improve again this quarter driven by a pickup in demand from clients in asia and parts of europe


A couple of comments. On the memory side, everything that is out in the market today from an information standpoint, it was reflected in our guide, and that's playing out as we thought. So there's no incremental

a couple of comments on the memory side everything that is out in the market today from an information standpoint it was reflected in our guide and that's playing out as we thought so there's no incremental


the return of the equity accounts for this year for 15.2%, which are above the target that we had set up, especially good performance in the Non-life business and in the Life Insurance.

the return on the equity accounts for this year for 15 2% which are above the target that we had set up especially good performance in the non-life business and in the life insurance


This is because almost all of our net operating fees and a portion of our incentive fees will be recognized as services are billed to our customers. We'll have more color for you on this front on the next earnings call.

this is because almost all of our net operating fees and a portion of our incentive fees will be recognized as services are billed to our customers we'll have more color for you on this front on the next earnings call


we too are developing new products that respond to the needs of a wide variety of consumer groups, from the elderly to women and the younger generation.

we too are developing new products that respond to the needs of a wide variety of consumer groups from the elderly to women and the younger generation


As a result, Ramune sales volumes are expanding. Ramune sales are also being supported by the appeal to the health benefits of glucose,

as a result ramane sales volumes are expanding ramane sales are also being supported by the appeal to the health benefits of glucose